Over the years I've done many consulting projects for real estate guys (both large and small). They all involve creating a spreadsheet to understand current rent rolls and future rent based on adjustments to occupancy and inflation.
The best rent templates I've done in Excel include the following:
- Rent Management Template (includes printable output) (to track tenant payments and other data each month)
- General Real Estate Forecasting Template (good for anything that has varying units such as self-storage, multi-family, and large apartment buildings)
- Single Rental Property Template
- Scaling Up to 100 Rental Properties Template
- Short-term Rentals Template
- Simple Unit-based Template
- Mobile Home Parks Scaling Template
Most of the above templates include an option for acquisition. A few also have assumptions for construction periods, debt, and refinance options. This makes it possible to calculate IRR and perform more in-depth property evaluation exercises. You can check out all real estate templates I've built here.
If you are trying to create your own template, here are some things to consider:
Creating a rent spreadsheet template in Excel can help you keep track of rental payments, expenses, and other related details. Here's a basic structure for a rent spreadsheet template:
Rent Spreadsheet Template Structure:
Tenant Information:
- Tenant Name
- Lease Start Date
- Lease End Date
- Contact Information (Phone, Email)
Monthly Rent Details:
- Month/Year
- Rent Due Date
- Amount Due
- Amount Received
- Payment Date
- Payment Method (Cash, Check, Bank Transfer, etc.)
- Outstanding Balance
Expenses (if you're a landlord managing property):
- Date
- Description of Expense
- Amount
- Vendor/Service Provider
- Purpose (Repairs, Maintenance, etc.)
Security Deposit Details:
- Deposit Amount
- Date Received
- Date Returned (if applicable)
- Deductions (if any)
Lease Renewal & Notices:
- Renewal Date
- Notice Given Date
- New Lease Start and End Date (if renewed)
Notes:
- Any additional notes or details about the tenant, property, or any incidents.
Additional Features:
- Formulas: Incorporate formulas to automatically calculate outstanding balances, total expenses for a particular month or year, etc.
- Conditional Formatting: Use Excel's conditional formatting to highlight rows where the rent hasn't been paid by the due date or where the outstanding balance is greater than zero.
- Drop-Down Lists: For columns like 'Payment Method', use drop-down lists for easier and consistent data entry.
- Filters: Enable filters at the top of each column so you can quickly sort and find data.
- Charts: Create monthly charts to visualize rental income and expenses over time.
Remember, the above is a basic structure, and you can customize the spreadsheet based on your specific needs and preferences. If you're unfamiliar with Excel functions, there are many online tutorials and courses available to guide you through creating a detailed and functional rent spreadsheet.
Article found in Real Estate.
